Kallanish Steel Weekly
The new Carbon Border Adjustment Mechanism (CBAM) legislation has officially been approved and published, giving the go ahead for the implementation of the first transitional phase from October.
During the first transitional phase, importers of steel products in Europe will need to implement a system to report to authorities imports …
The post Covid-19 drive for sustainability has reinforced the dynamic of higher steel prices amid costs and other obstacles to decarbonisation. China’s rumoured steel output cuts should meanwhile materialise in the second half of the year, providing a boost to global steel margins observed participants at last week’s Kallanish Europe …
Competition has intensified in long products export markets amid slowing global demand and the presence of new supplying countries. The market is pinning its hopes on China reducing steel production, but it remains to be seen how strictly it does this, according to sources at the latest International Rebar Exporters …
Ferrous prices headed south across the board throughout April as China’s much-anticipated post-zero Covid-19 demand rebound did not materialise. Meanwhile, the European market optimism seen in the first quarter fizzled out and concerns grew over a recession in the US. In Turkey it became clear that post-earthquake reconstruction would not …
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Very good overview of the weekly steel market.